Buying

Buying a home in today’s economic condition is by far one of the best decision’s you can make for your financial future. There is a mass inventory of homes and foreclosures available for sale. The government has added incentives for first time homebuyers. Since there is such an inventory of properties on the market, Home Owners/Banks are offering low listing prices and an abundance of concessions (i.e paid closing costs, furnace credit, etc).

The first step in purchasing your new home would be to work with a mortgage professional to understand how much you can afford, including taxes, insurance and potential association fees. It is also vital to map out what loan program will fit your long term goals. Some loan programs have specific qualifications and parameters for properties. So it is important for you and an FSP agent to know all this information prior to looking up properties.

Selling

Selling your home can be exciting, but it also takes work. You’ll need to fix all those little problems you’ve let go for so many years, select the right Agent and go through the emotional ups and downs during the anticipation of a sale.

Working with an FSP agent can help curve the anxiety or unnecessary stress of selling your home. The three most important elements to a Real Estate sale are:

1.    Price- A Field Street Realtor will present a comprehensive report on all the homes in your area so that you feel comfortable and secure with your listing price. Pricing too high can result in many days on the market and pricing too low can mean lost dollars.

2.    Promotion- It is vital to get a home promoted through multiple streams of marketing outlets. How else are potential homebuyers going to see your home? Having the right marketing mix can produce a quicker sale.

3.    Preparation- When selling your home you should make it as neutral as possible, so your home appeals to many different buyers. It is important to remove clutter, tone down dramatic colors and create spacious room layouts. Many major networks such as HGTV have shows that show you how simple changes and upgrades can translate into big dollars.

It is said that selling and buying homes is one of the most stressful things that most people go through. That’s why having a FSP Agent there to answer all your questions and share in your dreams can provide solace that such important events are being handled with care and guidance.

To learn more visit:
http://www.hud.gov/selling/index.cfm

SHORT SALES

Are you upside down on your mortgage? FSP has many agents that are certified Short Sale specialists that can guide and educate homeowners on the options they have available to them. In these trying times many homeowners are faced with difficult decisions. It is imperative to your financial future to make sound decisions based on fact and our experience. 

Short Sale definition:
A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes.
Short Sale Process:

• Work Out Package submitted to lender by Seller
• Offer Submitted
• Counter offer response
• Both parties sign a contract
• 5 day attorney review
• Pre-HUD prepared to submit to lender with contract
• Waiting period
• Negotiator assigned/Appraisal ordered
• Bank may counteroffer
• Final approval given
• Buyer moves forward with financing and purchase property
• THIS PROCESS CAN TAKE UP TO 16 WEEKS

Field Street Properties, LLC
2 E. 22nd Ave., Suite 105
Lombard, IL 60148
info@fieldstreetproperties.com
Phone:630.613.9390
Fax:630.613.9392

Selling

Short Sales

Expert Foreclosure Tours 

Buying